"A state appeals court on Thursday ruled California's high profile market system for reducing greenhouse gas emissions does not amount to an illegal tax, a decision that could lift a pall over the so-called cap-and-trade program's marketplace for buying and selling pollution allowances.
The California Chamber of Commerce and others had filed a pair of lawsuits challenging the anti-pollution program, which requires large producers of greenhouse gases to either lower their emissions or purchase pollution rights from the state or others.
The system is called cap-and-trade because it puts a cap on the amount of emissions for the state but allow polluters to purchase or trade pollution allowances."
Sharon Bernstein reports for Reuters April 6, 2017.
"Appeals Court Upholds California's Anti-Greenhouse Gas Program"
Source: Reuters, 04/07/2017
